River Global Investors LLP Decreases Stake in Alcoa Co. (NYSE:AA)

River Global Investors LLP reduced its holdings in shares of Alcoa Co. (NYSE:AA) by 44.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 24,230 shares of the industrial products company’s stock after selling 19,302 shares during the period. River Global Investors LLP’s holdings in Alcoa were worth $916,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ballentine Partners LLC lifted its stake in shares of Alcoa by 3.2% during the fourth quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 279 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in Alcoa by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company’s stock worth $1,988,000 after acquiring an additional 300 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Alcoa by 5.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company’s stock worth $246,000 after acquiring an additional 328 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Alcoa by 3.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock valued at $365,000 after acquiring an additional 339 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its stake in shares of Alcoa by 4.1% during the third quarter. CreativeOne Wealth LLC now owns 9,114 shares of the industrial products company’s stock valued at $352,000 after purchasing an additional 360 shares during the period. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Alcoa to $43.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Morgan Stanley lowered their target price on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price objective on Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Bank of America upped their price objective on Alcoa to $58.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, B. Riley raised shares of Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alcoa presently has an average rating of “Moderate Buy” and a consensus price target of $46.55.

Alcoa Stock Up 0.0 %

Shares of AA stock opened at $32.84 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. The stock has a market cap of $8.50 billion, a PE ratio of -205.27, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. The business’s fifty day moving average is $36.02 and its 200-day moving average is $37.94. Alcoa Co. has a 1 year low of $27.12 and a 1 year high of $47.77.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Equities analysts expect that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Tuesday, March 4th. Alcoa’s payout ratio is -250.00%.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.